Capital One Financial Estimates NOG FY2024 Earnings

Northern Oil and Gas, Inc. (NYSE:NOG) – Stock analysts at Capital One Financial upped their FY2024 EPS estimates for Northern Oil and Gas in a report released on Wednesday, January 8th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $5.45 per share for the year, up from their previous estimate of $5.44. The consensus estimate for Northern Oil and Gas’ current full-year earnings is $5.40 per share. Capital One Financial also issued estimates for Northern Oil and Gas’ FY2025 earnings at $5.58 EPS.

A number of other brokerages have also commented on NOG. Morgan Stanley dropped their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Truist Financial increased their price target on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Up 0.1 %

NOG opened at $39.33 on Friday. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The company’s 50-day moving average is $39.71 and its 200 day moving average is $38.67. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $3.93 billion, a P/E ratio of 4.72 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the prior year, the business posted $1.73 EPS. The firm’s revenue was up 140.0% compared to the same quarter last year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.27%. Northern Oil and Gas’s payout ratio is 20.17%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Advisors LLC bought a new position in Northern Oil and Gas in the 3rd quarter worth $828,000. American Century Companies Inc. grew its stake in shares of Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. Qsemble Capital Management LP bought a new stake in Northern Oil and Gas during the second quarter worth approximately $625,000. Mutual of America Capital Management LLC lifted its stake in Northern Oil and Gas by 16.3% in the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock worth $16,476,000 after purchasing an additional 62,254 shares during the last quarter. Finally, Heritage Wealth Management Inc. bought a new position in Northern Oil and Gas in the second quarter worth approximately $939,000. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.